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Automobile parts & services marketplace SparesHub raises Rs 2 Cr funding

Founded in 2013 by Tapas Gupta and Arijit Chakraborty, SparesHub presently has over 170 registered workshops on its platform.

Automobile parts and services marketplace SparesHub.com has raised Rs 2 crore from Anthill Scale Ventures, Esvee Technologies, Chennai Angels and other high net-worth individuals (HNIs). The new infusion of funds will be used to enter new geographical areas and strengthen its technology platform.

Founded in 2013 by Tapas Gupta and Arijit Chakraborty, SparesHub presently has over 170 registered workshops on its platform. It also directly works with multiple car companies in India to make a genuine range of automobile parts available across the country through ecommerce.

“The Indian auto parts industry has started to adopt ecommerce and other modern retail technologies and SparesHub is on track with the vision of revolutionising the auto parts industry using technology,” said chief executive Gupta.

There are more than 23 million cars in India and the automobile parts replacement market is estimated to be worth $8 billion growing at an estimated 12%-14% year-on-year.

“SparesHub in a venture which is the process of transforming the way genuine automotive spares are distributed,” said Mahalingam, one of the investors from The Chennai Angels. “Creating an online platform showcasing spares from leading automobile manufacturers, SparesHub is also enhancing the reach of genuine spares to the underserved, remote parts of the country.” The Pune-based startup raised its first round of investment in 2015.

Information/News:http://tech.economictimes.indiatimes.com/news/startups/automobile-parts-services-marketplace-spareshub-raises-rs-2-cr-funding/59321910

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